OMERS ADMINISTRATION Corp Buys Shares of 5,400 Owens Corning Inc $OC

OMERS ADMINISTRATION Corp purchased a new position in Owens Corning Inc (NYSE:OC) in the second quarter, Holdings Channel reports. The fund purchased 5,400 shares of the construction company’s stock, valued at approximately $858,000.

A number of other hedge funds have also made changes to their positions in OC. Sanctuary Advisors LLC bought a new position in shares of Owens Corning in the 2nd quarter valued at approximately $2,858,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Owens Corning in the 2nd quarter worth approximately $710,000. Meiji Yasuda Asset Management Co Ltd. bought a new stake in Owens Corning during the second quarter worth approximately $296,000. Kendall Capital Management acquired a new position in Owens Corning during the second quarter valued at approximately $415,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in Owens Corning during the second quarter valued at approximately $207,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on OC. Citigroup boosted their price objective on shares of Owens Corning from $149.00 to $177.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Royal Bank Of Canada raised their target price on shares of Owens Corning from $148.00 to $172.00 and gave the company an “outperform” rating in a research note on Friday, July 10th. Wall Street Zen upgraded shares of Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. The Goldman Sachs Group boosted their target price on shares of Owens Corning from $141.00 to $159.00 and gave the stock a “neutral” rating in a research report on Friday, July 10th. Finally, Weiss Ratings upgraded shares of Owens Corning from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, June 24th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $165.31.

Owens Corning Stock Down 1.1%

OC stock opened at $144.04 on Friday. Owens Corning Inc has a twelve month low of $97.53 and a twelve month high of $159.91. The company has a market cap of $11.39 billion, a PE ratio of -17.87, a price-to-earnings-growth ratio of 2.19 and a beta of 1.32. The business’s 50-day simple moving average is $144.85 and its 200 day simple moving average is $127.73. The company has a quick ratio of 0.67, a current ratio of 1.16 and a debt-to-equity ratio of 1.10.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, August 5th. The construction company reported $3.93 EPS for the quarter, beating the consensus estimate of $3.09 by $0.84. Owens Corning had a positive return on equity of 20.52% and a negative net margin of 6.81%.The firm had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the prior year, the firm posted $4.21 EPS. The company’s revenue for the quarter was up .3% on a year-over-year basis. On average, research analysts anticipate that Owens Corning Inc will post 9.9 earnings per share for the current year.

Owens Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 6th. Stockholders of record on Monday, July 20th were given a dividend of $0.79 per share. The ex-dividend date was Monday, July 20th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.2%. Owens Corning’s payout ratio is currently -39.21%.

Owens Corning Company Profile

Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company’s core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.